In a perfectly competitive market, Multiple Choice all firms produce and sell a standardized or undifferentiated product. the output sold by a particular firm may be quite different from the output sold by the other firms in the market. firms are price-setters. it is difficult for new firms to enter the market due to barriers to entry.
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Home » Business » In a perfectly competitive market, Multiple Choice all firms produce and sell a standardized or undifferentiated product. the output sold by a particular firm may be quite different from the output sold by the other firms in the market.